Pro Farmer's Daily Advice Monitor

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  • Sept. 20: No changes.
  • Sept. 17: No changes.
  • Sept. 16: No changes.
  • Sept. 15: No changes.
  • Sept. 14: No changes.

*Note: Check below daily to see if we recommend catch-up sales for individual markets.

Corn

Cash-only marketers

2021 crop: 40% forward sold for harvest delivery 

Hedgers — cash sales

2021 crop: 40% forward sold for harvest delivery

Hedgers — futures/options

10% hedge in December corn at $5.22 for 2021-crop

Get current with advised hedges. Wait on a price recovery to get current with advised cash sales. We are targeting the mid-$5.00 range to increase 2021-crop sales. We would likely make initial 2022-crop sales at the same time. 

Soybeans

Cash-only marketers

2021 crop: 40% forward sold for harvest delivery 

Hedgers — cash sales

2021 crop: 40% forward sold for harvest delivery 

Hedgers — futures/options

10% hedge in November soybeans at $12.73 1/2 for 2021-crop 

Get current with advised hedges. Wait on a price recovery to get current with advised cash sales. We are targeting the mid-$13.00 range to increase 2021-crop sales. We would likely make initial 2022-crop sales at the same time. 

Wheat

Cash-only marketers

2021 crop: 70% sold 

2022 crop: 20% forward sold for harvest delivery next year.

Hedgers — cash sales

2021 crop: 70% sold

2022 crop: 20% forward sold for harvest delivery next year. 

Hedgers — futures/options

No positions

Get current with advised 2021- and 2022-crop sales. 

Cotton

Cash-only marketers

2021 crop: 75% forward sold for harvest delivery 

2022 crop: 0% sold

Hedgers — cash sales

2021 crop: 75% forward sold for harvest delivery 

2022 crop: 0% sold

Hedgers — futures/options

No position

Get current with advised sales. Be prepared to increase 2021-crop sales and start 2022-crop sales on a sharp price spike. 

Livestock

Cattle

3rd qtr. 2021

0%

4th qtr. 2021

0%

1st qtr. 2022

0%

2nd qtr. 2022

0%

Carry all risk in the cash market for now. Futures are signaling a short-term top is in place, so we may add hedgers for fed cattle producers. 

Hogs

3rd qtr. 2021

0%

4th qtr. 2021

0% 

1st qtr. 2022

0%

2nd qtr. 2022

0%

Be prepared to add fourth-quarter hedges on a price recovery. We feel the downside is overdone at current levels. 

Feed

Corn

3rd qtr. 2021

83%

4th qtr. 2021

0%

1st qtr. 2022

0%

2nd qtr. 2022

0%

You should are hand-to-mouth on corn-for-feed needs. While futures are signaling a short-term low is in place, it will be difficult to find sustained buying during harvest. 

Meal

3rd qtr. 2021

92%

4th qtr. 2021

25%

1st qtr. 2022

0%

2nd qtr. 2022

0%

You should have soybean meal needs covered in the cash market for 75% of September and 25% for the fourth quarter. Get current with advised cash feed coverage.

 

 

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